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The Fed will update its rate projections Wednesday. Here’s what to expect
U.S. Federal Reserve Chair Jerome Powell testifies before a Senate Banking, Housing and Urban Affairs Committee hearing on “The Semiannual Monetary Policy Report to the Congress,” at Capitol Hill in Washington, U.S., Feb. 11, 2025. Craig Hudson | Reuters Federal Reserve officials at this week’s meeting are expected to hold interest rates steady but adjust […]
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Stocks making the biggest moves midday: Intel, Tesla, Affirm, Robinhood and more
Check out the companies making headlines in midday trading: Affirm — The buy now, pay later company saw shares tumble 10% after CNBC reported that Swedish fintech firm Klarna will replace Affirm as the exclusive provider of such loans for Walmart . Klarna, which just disclosed its intention to go public in the U.S., will […]
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Y Combinator startups are fastest growing, most profitable in fund history because of AI
Silicon Valley’s earliest stage companies are getting a major boost from artificial intelligence. Startup accelerator Y Combinator — known for backing Airbnb, Dropbox and Stripe — this week held its annual demo day in San Francisco, where founders pitched their startups to an auditorium of potential venture capital investors. Y Combinator CEO Garry Tan told […]
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Consumer sentiment drops in March to 57.9, according to University of Michigan survey, worse than expected
Consumer sentiment took another hit in March as worries intensified over inflation and a slumping stock market, according to the University of Michigan’s latest sentiment survey released Friday. The survey posted a mid-month reading of 57.9, which represents a 10.5% decline from February and was below the Dow Jones consensus estimate for 63.2. The reading […]
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Chinese battery giant CATL posts annual revenue drop ahead of Hong Kong listing
Chinese battery giant Contemporary Amperex Technology (CATL), pictured here on April 2, 2020, broke ground on its first overseas factory in Germany in late 2019 and plans to add up to 2,000 jobs there by 2025. Martin Schutt | picture alliance | Getty Images China’s Contemporary Amperex Technology posted a 9.7% drop in annual revenue, […]
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Intel pops 16% as chipmaker taps new CEO, Wall Street backs turnaround effort
Intel appoints Lip-Bu Tan as CEO. Courtesy: Intel Intel shares popped more than 16% after the struggling chipmaker named Lip-Bu Tan its new CEO and Wall Street cheered the turnaround attempt. Tan previously served as CEO of chip software maker and Intel supplier Cadence Design Systems, and will rejoin the board after departing last year. […]
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Trump sued by 20 states to halt the ‘dismantling’ of Education Department
A security guard walks past the U.S. Department of Education headquarters in Washington, D.C., March 12, 2025. Nathan Howard | Reuters A group of Democratic state attorneys general filed a lawsuit against the Trump administration Thursday over its moves to dismantle the U.S. Department of Education and its termination of nearly half the agency’s staff. […]
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Adobe shares drop 13% as concerns about AI growth overshadow better-than-expected results
Shantanu Narayen, Chairman and CEO of Adobe Systems addresses the gathering on the first day of the three-day B20 Summit in New Delhi on August 25, 2023. Sajjad Hussain | AFP | Getty Images Adobe shares dropped 13% following the company’s quarterly earnings report, as investors fretted over lingering growth concerns and the software maker’s […]
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U.S. budget deficit surged in February, passing $1 trillion for year-to-date record
The U.S. Treasury Building is seen from the Washington Monument on a cold, winter day on Jan. 21, 2025 in Washington, DC. Kevin Carter | Getty Images The U.S. debt and deficit problem worsened during President Donald Trump’s first month in office, as the budget shortfall for February passed the $1 trillion mark even though […]
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Tesla bounces for second day after steepest drop since 2020
Tesla CEO Elon Musk looks on as US President Donald Trump speaks to the press as they stand next to a Tesla vehicle on the South Portico of the White House on March 11, 2025 in Washington, DC. Mandel Ngan | AFP | Getty Images Tesla shares rose for a second straight day in early […]
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